AIT vs BROS: Correlation
How closely do Applied Industrial Technologies, Inc. (AIT) and Dutch Bros Inc. (BROS) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIT and BROS?
Over the past 3 years, AIT and BROS moved with a correlation of 0.46, which is moderate. The past 12 months show a weaker link (0.29) than the 3-year average (0.46). Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 689.0 %².
By 3-year correlation, BROS places #18 of the 26 assets tracked against AIT. Correlation aside, the last 12 months split them widely, with AIT ahead by 57.6 points (+26.9% versus -30.7%). Risk is not evenly split, since BROS carries 2.2 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AIT vs BROS: side by side
| AIT (Applied Industrial Technologies, Inc.) | BROS (Dutch Bros Inc.) | |
|---|---|---|
| 1-year return | +26.9% | -30.7% |
| 5-year return | +291.4% | +38.2% |
| Volatility (ann.) | 26.0% | 57.0% |
| Beta vs S&P 500 | 1.03 | 1.67 |
| Max drawdown (3Y) | -26.4% | -45.3% |
| Market cap | $12.4B | $8.9B |
| P/E (trailing) | 31.2 | 70.4 |
| Dividend yield | 0.57% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIT | BROS |
|---|---|---|
| 2022 | +24.2% | -44.6% |
| 2023 | +38.4% | +12.3% |
| 2024 | +39.7% | +65.4% |
| 2025 | +8.0% | +16.9% |
| 2026 | +32.4% | -17.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIT and BROS good diversifiers for each other?
Reasonably. At 0.46, AIT and BROS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AIT and BROS?
The AIT/BROS correlation stands at 0.46 on a 3-year window (1 year: 0.29, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is BROS a good diversifier for AIT?
Reasonably. At 0.46, AIT and BROS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ait-vs-bros.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ait-vs-bros/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AIT correlations · BROS correlations
